Key Takeaways
- Drafting your own will or estate plan often leads to headaches after you pass.
- Estate plans include additional documents, such as powers of attorney and advanced medical directives.
- If the probate court rejects your will, that is the same as dying intestate (without a will).
- Some assets can bypass probate.
- You cannot include illegal items in an estate plan.
- Experienced estate planning attorneys can help you create an estate plan, guide administrators through the process, and defend against lawsuits by family members.
Navigating the world of wills and estate planning can be tough. Many people have a general idea about how they want to set up their will but do not have the necessary steps in place. To make things worse, not having the proper will and estate plan set up can cause headaches for your loved ones after you pass away. The documents may be insufficient, which does not allow your family to inherit anything, or they may be outdated.
Often, people forget to update their wills when beneficiaries pass away or they experience a major life change, such as divorce.
The attorneys at Virginia Beach Law Group can develop an estate plan that works for you. They will continue to work with you to update the plan as needed. Estate planning does not have to be complicated when you use the services of the experienced team at Virginia Beach Law Group.
Why Clients Choose Virginia Beach Law Group
The attorneys at Virginia Beach Law Group are skilled in drafting comprehensive estate plans, catering to both younger individuals with fewer assets and those with businesses and high-value properties.
Testimonials
“Dave really cares about his clients, if you need Wills & Estate planning in Virginia, I highly recommend this law firm. They are compassionate, and extremely thorough.” — Sarah K.
“My family and I have used the law firm for over 25 years, and I would highly recommend their services to everyone. Mr. David Johnson is the epitome of expertise and attention to detail. He has ALWAYS gone the extra mile to expedite action in the most effective manner. The overall friendliness and service of the entire staff lends itself to a high degree of confidence that their legal service is done RIGHT!!” — Randy C.
Key Services Offered by Our Estate Planning Attorneys in Portsmouth
Our Portsmouth estate planning attorneys provide many services for families of all types. Our services include:
- Drafting wills, powers of attorney, and advanced medical directives
- Establishing trusts for all types of estates, including those over $13.99 million, blended families, or for tax optimization
- Probate avoidance strategies, such as filing a list of heirs without triggering probate taxes
- Handling partition lawsuits to force the sale of co-owned property
- Defending against legal challenges, such as omitted spouse claims and elective shares
What is the Difference Between a Will and an Estate Plan?
A will dictates how a personal representative distributes assets after your death. However, an estate plan is a comprehensive package that includes much more than a will. Depending on your circumstances, an estate plan may have various documents, including:
- A will
- Power of attorney (financial/medical)
- Trusts (if needed)
Estate plans also include strategies to avoid probate, taxes, and family disputes.
Why Estate Planning is Important in Portsmouth
Probate law is complex, even for smaller estates. If you die without a will or an estate plan, you die “intestate,” which means the probate court pays your liabilities from your assets and disburses what you have left according to Virginia’s succession rules.
It’s a big possibility that your loved ones will not receive any of your estate, or if they do, it may not be your wishes.
It is imperative that you develop an estate plan, including a will, financial and medical powers of attorney, advanced medical directives, and, when necessary or needed, one or more trusts.
An experienced probate lawyer can help you avoid probate taxes by:
- Filing a list of heirs discreetly
- Controlling asset distribution, especially if you need to balance lifetime gifts
- Preventing legal disputes from omitted spouses or because of elective shares or co-owner conflicts
- Properly executing documents to comply with Virginia laws to avoid invalidation
What Should You Look for in an Estate Planning Attorney in Portsmouth?
When you are searching for an experienced Portsmouth estate planning attorney, you should look for someone compassionate and knowledgeable about Virginia laws. You can review testimonials from other clients.
Other factors you should look for include:
- Knowledge of probate tax avoidance
- Experience in handling partition lawsuits and trust requirements
- Provides attention to detail and ensures documents have the proper witness signature and notarization and are legally sound
What Can I Include in My Estate Plan in Portsmouth?
An estate plan may contain:
- A will
- Financial powers of attorney
- Medical powers of attorney
- Beneficiary designation
- Advanced medical directives
- Specific bequests, such as heirlooms and unequal distributions
- Instructions for unique assets, such as firearms with suppressors and digital assets
- One or more trusts
What Can a Lawyer Do for Estate Administration in Portsmouth?
Experienced Portsmouth estate planning attorneys can help with estate administration and planning, such as aiding the executor, dealing with insurance claims, and distribution of the estate.
An attorney can also provide probate guidance, help you resolve disputes, validate wills, and ensure the estate is tax-compliant.
Are You in the Process of Setting Up Your Will?
When you are ready to set up a will, create an estate plan, or update your will or estate plan, contact an experienced estate planning attorney at Virginia Beach Law Group at 757-486-4529 for a consultation. You can also complete our online contact form to schedule a consultation.
